Philippines

Inflation was 6.1% in August and unemployment 6.0% in July; banks' consumer-loan NPL ratio rose to 5.49% as consumer loan growth slowed to 17.1%.

Last updated: 28 Sep 2026
Latest data as of: 31 Aug 2026
Articles: 11 articles →
Method: How we source and define figures

Headline CPI inflation (PSA)6.1%down from 6.2% in July; fourth consecutive monthly slowdown31 Aug 2026 · GMA News: Inflation slows down for fourth straight month at 6.1% in August

Unemployment rate (PSA)

Labor Force Survey.

6.0%up from 5.3% in July 202531 Jul 2026 · PSA: Number of Employed Persons Rose to 49.21 Million as Underemployment Declined in July 2026

Consumer loan growth17.1%down from 17.8% in June; eleventh consecutive monthly slowdown31 Jul 2026 · Philstar: Credit growth rebounds to 2-month high in July

Consumer loan NPL ratio5.49%up from 5.44% in June31 Jul 2026 · Inquirer: Bad loans up amid continuing consumer strain (2026-09-09)

Key indicators and definitions

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Indicator	Value	Definition and scope	Basis date	Source	Definition and source
Headline CPI inflation (PSA)	6.1%down from 6.2% in July; fourth consecutive monthly slowdown	Year-on-year change in the consumer price indexPhilippines, national	31 Aug 2026	GMA News: Inflation slows down for fourth straight month at 6.1% in August	Definition and source Year-on-year change in the consumer price index Scope: Philippines, national Source: GMA News: Inflation slows down for fourth straight month at 6.1% in August
Unemployment rate (PSA)	6.0% Labor Force Survey. up from 5.3% in July 2025	Unemployed persons as a share of the labour forcePhilippines, national	31 Jul 2026	PSA: Number of Employed Persons Rose to 49.21 Million as Underemployment Declined in July 2026	Definition and source Unemployed persons as a share of the labour force Scope: Philippines, national Source: PSA: Number of Employed Persons Rose to 49.21 Million as Underemployment Declined in July 2026
Consumer loan growth	17.1%down from 17.8% in June; eleventh consecutive monthly slowdown	Year-on-year growth of outstanding household (consumer) loansUniversal and commercial banks	31 Jul 2026	Philstar: Credit growth rebounds to 2-month high in July	Definition and source Year-on-year growth of outstanding household (consumer) loans Scope: Universal and commercial banks Source: Philstar: Credit growth rebounds to 2-month high in July
Consumer loan NPL ratio	5.49%up from 5.44% in June	Non-performing consumer loans as a share of consumer loans (BSP data)Philippine banking system	31 Jul 2026	Inquirer: Bad loans up amid continuing consumer strain (2026-09-09)	Definition and source Non-performing consumer loans as a share of consumer loans (BSP data) Scope: Philippine banking system Source: Inquirer: Bad loans up amid continuing consumer strain (2026-09-09)

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